The Government has approved 21new textiles parks under the Scheme for Integrated Textiles Parks (SITP) with a project cost of Rs. 2100 crore and is expected to be implemented over a period of 36 months, said the Ministry of Textiles in its annual performance review.
The new textiles parks would leverage an investment of over Rs. 9000 crore and provide employment to 4 lakh textiles workers. The product mix in these parks would include apparels and garments parks, hosiery parks, silk parks, processing parks, technical textiles including medical textiles, carpet parks, and powerloom parks. The Government sought to ensure balanced regional development, promote textiles industry in North Eastern States and in States where the industry is in a nascent stage of development and promote textiles parks in cooperative & handloom sectors.
The Indian Textiles Industry has a powerful presence in the economic life of the country. The sector contributes 14% of industrial production, 4% of GDP and 10.63% of country’s export earnings. Under the 11th Five Year Plan (FYP), it was projected to accelerate to a growth rate of 16% in value and should reach the value of USD 115 billion (exports USD 55 billion and domestic market USD 60 billion) by 2012.
This scheme provides 40% grant subject to a maximum of Rs.40 crores for infrastructure development including land building, roads, drainage, water supply, electricity, effluent treatment plant, training centre, testing, laboratory, canteen, workers hostel & much more.
